NGEx Drills 1,246.50m at 0.86% CuEq plus 131.00m at 5.09% CuEq including 5.00m at 29.05% CuEq at Lunahuasi
Lundin-backed NGEx validates kilometric scale at Lunahuasi as Phase 4 drilling intersects 1.2km of mineralization.
The February 10, 2026, news release reports results from the ongoing Phase 4 diamond drilling program at the 100%-owned Lunahuasi Project in San Juan, Argentina. Key highlights include hole DPDH049, which intersected a massive 1,246.50m grading 0.86% CuEq from 116.5m depth. This intersection includes a high-grade core of 131.00m at 5.09% CuEq, which further contains an ultra-high-grade "bonanza" interval of 5.00m at 29.05% CuEq. Additionally, hole DPDH060 extended the Mars Zone with 32.3m at 3.93% CuEq. The company has completed 17,000m of the planned program and remains ahead of schedule.
The news is Material - Positive for the following reasons: - Scale Validation: The 1.2km intercept (DPDH049) is a "step change" in confirming the bulk-tonnage potential of the Saturn Zone. It transitions the project from a series of high-grade veins to a massive, contiguous mineralized system. - Grade Continuity: The high-grade sub-intervals (5.09% and 29.05% CuEq) demonstrate that the system retains its high-value core even within a larger bulk-tonnage envelope. - Operational Efficiency: Completing 17,000m ahead of schedule reduces the risk of seasonal delays (Austral winter) and suggests management is effectively utilizing the C$175 million raised in late 2025. - Geological Model: The results confirm the "wedge" of potential between previous deep drilling and the surface, increasing the probability of a future open-pit or large-scale underground resource.
NGEx Minerals is a Canadian explorer focused on the Vicuña District, which straddles the border of Argentina and Chile. - Flagship Project: Lunahuasi (100% interest). It is a high-sulphidation epithermal system located within a cluster of giant deposits (Filo del Sol, Josemaria, Caserones). - Secondary Asset: Los Helados (approx. 69% interest). A massive copper-gold porphyry deposit in Chile with an indicated resource of 2.1 billion tonnes at 0.51% CuEq. - Strategy: Focusing near-term capital on Lunahuasi exploration to maximize value while potentially monetizing or joint-venturing Los Helados.